Lincoln National Corporation (LNC) Stock Rating Lowered by BidaskClub
BidaskClub downgraded shares of Lincoln National Corporation (NYSE:LNC) from a buy rating to a hold rating in a research note released on Thursday morning.
LNC has been the subject of a number of other research reports. Zacks Investment Research raised Lincoln National Corporation from a hold rating to a strong-buy rating and set a $81.00 price objective for the company in a research note on Tuesday, July 11th. Bank of America Corporation set a $78.00 price objective on Lincoln National Corporation in a research note on Tuesday, July 4th. Wells Fargo & Company reaffirmed a hold rating on shares of Lincoln National Corporation in a research note on Thursday, May 4th. Finally, Keefe, Bruyette & Woods reaffirmed a hold rating on shares of Lincoln National Corporation in a research note on Monday, June 26th. Six investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $72.60.
Lincoln National Corporation (LNC) traded up 0.48% during mid-day trading on Thursday, hitting $73.16. The company’s stock had a trading volume of 380,387 shares. The company’s 50 day moving average is $69.21 and its 200-day moving average is $67.74. The stock has a market cap of $16.41 billion, a P/E ratio of 12.00 and a beta of 1.98. Lincoln National Corporation has a 52-week low of $42.24 and a 52-week high of $73.34.
Lincoln National Corporation (NYSE:LNC) last released its quarterly earnings data on Wednesday, May 3rd. The financial services provider reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.30. The firm had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.54 billion. Lincoln National Corporation had a return on equity of 10.70% and a net margin of 10.43%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.25 earnings per share. On average, equities analysts predict that Lincoln National Corporation will post $7.34 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 1st. Investors of record on Monday, July 10th will be given a $0.29 dividend. The ex-dividend date of this dividend is Thursday, July 6th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.59%. Lincoln National Corporation’s dividend payout ratio is currently 19.14%.
In other Lincoln National Corporation news, Director Michael F. Mee sold 13,574 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $68.62, for a total transaction of $931,447.88. Following the sale, the director now directly owns 6,336 shares in the company, valued at $434,776.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Isaiah Tidwell sold 13,946 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $65.04, for a total value of $907,047.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 57,693 shares of company stock worth $3,899,915. Company insiders own 1.41% of the company’s stock.
A number of large investors have recently modified their holdings of LNC. UBS Asset Management Americas Inc. increased its stake in shares of Lincoln National Corporation by 104.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 3,086,835 shares of the financial services provider’s stock worth $204,564,000 after buying an additional 1,575,438 shares during the period. Teachers Advisors LLC increased its stake in shares of Lincoln National Corporation by 95.5% in the fourth quarter. Teachers Advisors LLC now owns 623,598 shares of the financial services provider’s stock worth $41,326,000 after buying an additional 304,584 shares during the period. Kentucky Retirement Systems bought a new stake in shares of Lincoln National Corporation during the fourth quarter worth about $1,099,000. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Lincoln National Corporation during the fourth quarter worth about $490,000. Finally, Macquarie Group Ltd. increased its stake in shares of Lincoln National Corporation by 26.0% in the fourth quarter. Macquarie Group Ltd. now owns 9,600 shares of the financial services provider’s stock worth $637,000 after buying an additional 1,982 shares during the period. Institutional investors and hedge funds own 80.14% of the company’s stock.
About Lincoln National Corporation
Lincoln National Corporation is a holding company, which operates insurance and retirement businesses through subsidiary companies. The Company sells a range of wealth protection, accumulation and retirement income products and solutions, through its business segments. The Company operates through four segments: Annuities segment, which offers fixed (including indexed) and variable annuities; Retirement Plan Services segment, which provides employers with retirement plan products and services; Life Insurance segment, which focuses on the creation and protection of wealth through life insurance products, and Group Protection, which offers principally group non-medical insurance products.
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